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by panic 3318 days ago
> On the average of millions of privately arranged employment agreements, the employee's marginal value absolutely (slightly) exceeds their salary.

Are you saying this based on data? The actual labor market is very different from the abstract, perfectly competitive microeconomics model. It's hard to even figure out what the marginal value of a person's work is, not to mention the lack of perfect information, the difficulty of firing, the expectations around raises and pay cuts, people's varying self-conceptions of their own worth, …